An apartment complex situated right next to Pima Community College has been sold for a little over $33 million.

The Ledges at West Campus, consisting of over 200 units, is now the property of Tara Investment Group, a national real estate company. Tara Investment Group had been longing to get their foot into the Tucson market, and they believe that The Ledges At West Campus was the ideal opportunity to do so.

Originally conceived in 1997 as a "by the bed rental" opportunity for student housing, Tara Investment Groups bought the property with specific changes in mind. The real estate firm plans to convert the complex into a more traditional multi-family housing option.

“Tucson has been one of our top targets for several years and we are excited to enter the market with The Ledges at West Campus,” commented Elizabeth Meier, principal of Tara Investment Group, to Inside Tucson Business. “We look forward to finishing repositioning the community as conventional apartments and explore other investment opportunities in the region.”

Tara may have just gotten started in the Tucson market. According to Inside Tucson Business, the company has "already expressed interest acquiring additional properties throughout the Tucson area." Data from CBRE claims that the Tucson metropolitan area saw a 14.6% year-to-year growth in multi-family rent costs.